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South Bay Market Intelligence Report Vol. 4 | August 2018 Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate community This Sales Monthly Report monitors El Segundo

Lomita

Gardena

Manhattan Beach

Hawthorne

North Redondo

Hermosa Beach

South Redondo

Lawndale

Torrance

RE/MAX Estate Properties 700+ Local Agents • 16 Offices • Luxury Residential Commercial Investment Division • International

PAM JENSEN t: (310) 612-5308 e: pamjensen@eplahomes.com w: www.southbayforsale.com DRE# 00951875


Market Intelligence Glossary Median Price:

Median Price is the price of the property that falls in the middle of the total number of properties Sold in any given month.

Months Supply Of Inventory:

This is calculated by dividing the total number of homes for sale in a particular month by the number of homes that sold in that month.

Average Price Per Square Foot:

Found by taking the price of each property and dividing that by its Properties Pending sale: The number of properties placed in escrow during any given square footage, then finding the average for all properties Sold. month.

Properties for Sale: The number of properties that are for sale on the market.

Properties Under Contract:

The number of properties with an accepted offer however they have not closed.

Properties Sold: The number of properties that SOLD and transfered ownership.

DAYS On Market (Closed Sales):

The average number of days that properties were on ACTIVE on the market.

Absorption rate (closed sales):

This is the rate at which properties sell. It is the number of properties sold divided by the total number of properties for sale.

Report Notes:

Reports published in August 2018 are based on data available at the end of July 2018. All reports presented are based on data supplied by the CRMLS or TheMLS and Trendgraphix. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Information deemed reliable but not guaranteed.


SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................4 Gardena..................................................................5 Hawthorne..............................................................6 Hermosa Beach......................................................7 Lawndale................................................................8 Lomita.....................................................................9 Manhattan Beach.................................................10 Redondo Beach....................................................11 Torrance................................................................12


El Segundo juLY Stats Key Facts:

$1,020,000

Median Sold Price

$1,133,000

Average Sold Price

16

JULY JULY % 2017 2018 Change

Median Price

$1,010

$1,020

1%

$581

$633

9%

Average Price Per Sq. Foot Properties for Sale

18

16 -11%

Properties Pending Sales

11

14 27%

Properties Sold

15

15 0%

Days on Market (Sold Homes)

28

32 14%

Monthly Supply of Inventory

1.2

1.1 -8%

Absorption Rate (closed sales) 83.3 93.8 13%

Listings for Sale

14

Listings Pending

Average & Median Price $3,500 $1,600

$1,400 $3,000

15

Listings Sold

32

Days On Market

$2,593

$1,133

$1,200 $2,500

$1,020

$1,000 $2,000 $1,655

$800 $1,500 $600 $1,000

$400 $500 $200 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Gardena JULY Stats Key Facts:

$565,000

Median Sold Price

$545,000

Average Sold Price

49

Listings Pending

$520

$565

9%

Average Price Per Sq. Foot

$352

$388

10%

Properties for Sale

40

49 23%

Properties Pending Sales

43

37 -14%

Properties Sold

51

31 -39%

Days on Market (Sold Homes) 18

28 56%

Monthly Supply of Inventory

0.8

1.6 100%

Absorption Rate (closed sales) 127.5

63.3 -50%

Average & Median Price $3,500$700

$545

$3,000$600

31

% Change

Median Price

Listings for Sale

37

JULY JULY 2017 2018

$565 $2,593

$2,500$500

Listings Sold $2,000$400 $1,655

28

Days On Market

$1,500$300 $1,000$200 $500 $100 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Hawthorne juLY Stats Key Facts:

$737,000

Median Sold Price

$747,000

Average Sold Price

42

JULY JULY % 2017 2018 Change

Median Price

$725

$737

2%

Average Price Per Sq. Foot

$453

$499

10%

Properties for Sale

50

Properties Pending Sales

40 41 3%

Properties Sold

38

45 18%

Days on Market (Sold Homes)

27

19 -30%

Monthly Supply of Inventory

1.3

0.9 -31%

Absorption Rate (closed sales) 76

107.1 41%

Listings for Sale

41

Listings Pending

42 -16%

Average & Median Price $747

$800

$737

$3,500

$700 $3,000

$600

45

$2,593

$2,500

$500

Listings Sold

$2,000 $400

19

Days On Market

$1,655

$1,500 $300 $1,000 $200 $500 $100 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Hermosa Beach JULY Stats Key Facts:

JULY JULY 2017 2018

Median Price

$1,742,000 Median Sold Price

$2,047,000

Average Sold Price

64

Average Price Per Sq. Foot

% Change

$2,063

$1,742

-16%

$857

$1,054

23%

Properties for Sale

54

64 19%

Properties Pending Sales

17

16 -6%

Properties Sold

18

20 11%

Days on Market (Sold Homes) 32

32 0%

Monthly Supply of Inventory

3.2 7%

3

Absorption Rate (closed sales) 33.3 31.3 -6%

Listings for Sale

Average & Median Price $3,500

16

Listings Pending

$3,500 $3,000 $3,000

$2,500

20

Listings Sold

$2,047 $2,593

$2,500

$2,000 $2,000

$1,742 $1,655

32

Days On Market

$1,500 $1,500 $1,000 $1,000

$500 $500 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Lawndale juLY Stats Key Facts:

$535,000

Median Sold Price

$572,000

Average Sold Price

21

Median Price

$530

$535

1%

Average Price Per Sq. Foot

$450

$353

-22%

Properties for Sale

18

21 17%

Properties Pending Sales

9

12 33%

Properties Sold

12

7 -42%

Days on Market (Sold Homes)

23

51 122%

Monthly Supply of Inventory

1.5

3 100%

Absorption Rate (closed sales) 66.7

33.3 -50%

Listings for Sale

12

Listings Pending

JULY JULY % 2017 2018 Change

Average & Median Price $572

$700 $3,500 $600 $3,000

7

Listings Sold

$535 $2,593

$500 $2,500 $400 $2,000

$1,655

51

Days On Market

$300 $1,500 $200 $1,000 $100 $500 $- $-

July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Lomita JULY Stats Key Facts:

$720,000 Median Sold Price

$678,000

Average Sold Price

17

JULY JULY 2017 2018

Median Price

$599

$720

20%

Average Price Per Sq. Foot

$383

$449

17%

Properties for Sale

14

17 21%

Properties Pending Sales

17

14 -18%

Properties Sold

18

10 -44%

Days on Market (Sold Homes) 28

17 -39%

Monthly Supply of Inventory

1.7 113%

Listings Pending

0.8

Absorption Rate (closed sales) 128.6 58.8 -54%

Listings for Sale

14

% Change

Average & Median Price $3,500 $800

$678

$720

$700 $3,000

10

Listings Sold

17

Days On Market

$2,593

$600 $2,500 $500 $2,000

$1,655

$400 $1,500 $300 $1,000

$200 $500 $100 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Manhattan Beach juLY Stats Key Facts:

$2,240,000

Median Sold Price

$2,689,000

Average Sold Price

93

JULY JULY % 2017 2018 Change

Median Price

$2,425

$2,240

-8%

$975

$1,121

15%

Average Price Per Sq. Foot Properties for Sale

115

93 -19%

Properties Pending Sales

34

46 35%

Properties Sold

41

49 20%

Days on Market (Sold Homes)

33

49 48%

Monthly Supply of Inventory

2.8

1.9 -32%

Absorption Rate (closed sales) 35.7 52.7 48%

Listings for Sale

46

Listings Pending

Average & Median Price $3,500 $3,500 $2,689

$3,000 $3,000

49

$2,593

$2,500 $2,500

$2,240

Listings Sold $2,000 $2,000

$1,655

49

Days On Market

$1,500 $1,500 $1,000 $1,000 $500$500 $- $-

July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Redondo Beach JULY Stats Key Facts:

$1,090,000 Median Sold Price

$1,119,000

Average Sold Price

98

JULY JULY 2017 2018

Median Price

$1,000

$1,090

9%

Average Price Per Sq. Foot

$567

$570

1%

Properties for Sale

102

98 -4%

Properties Pending Sales

92

74 -20%

Properties Sold

81

69 -15%

Days on Market (Sold Homes) 20

30 50%

Monthly Supply of Inventory

1.4 8%

Absorption Rate (closed sales) 79.4 70.4 -11%

Listings for Sale

74

Listings Pending

1.3

Average & Median Price $3,500 $1,400 $3,000 $1,200

69

Listings Sold

% Change

$1,119 $1,090 $2,593

$2,500 $1,000 $2,000 $800

30

Days On Market

$1,655

$1,500 $600 $1,000 $400 $500 $200 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


Torrance juLY Stats Key Facts:

$750,000

Median Sold Price

$810,000

Average Sold Price

148

Median Price

$763

$750

-2%

Average Price Per Sq. Foot

$487

$514

6%

Properties for Sale

128

148 16%

Properties Pending Sales

119

109 -8%

Properties Sold

90

111 23%

Days on Market (Sold Homes)

25

25 0%

Monthly Supply of Inventory

1.4

1.3 -7%

Absorption Rate (closed sales) 70.3 75 7%

Listings for Sale

109

Listings Pending

JULY JULY % 2017 2018 Change

Average & Median Price $1,400 $3,500 $1,200 $3,000

111

Listings Sold

$2,593

$1,000 $2,500

$810

$2,000 $800

$750 $1,655

25

Days On Market

$1,500 $600

$1,000 $400

$500 $200 $-

$July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 Median

Average


RE/MAX Estate Properties • 700+ Local Agents • 16 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212

HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254

WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064

SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505

MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292 Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045 EL SEGUNDO 402 Main Street El Segundo, CA 90245 MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266

REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274 MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732

RE/MAX COMMERCIAL & INVESTMENT REALTY D OW N TOW N LOS ANG ELES | SOUT H BAY| www.REMAXC IR.com

LOS ANGELES 550 South Hope Street, Suite 500 Los Angeles, CA 90071

SOUTH BAY 23001 Hawthorne Blvd., Suite 205 Torrance, CA 90505


Notes:


Notes:


PAM JENSEN t: (310) 612-5308 e: pamjensen@eplahomes.com w: www.southbayforsale.com DRE# 00951875

Pam Jensen Market Intelligence Report South Bay  

Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate communit...

Pam Jensen Market Intelligence Report South Bay  

Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate communit...